A rich person (whale) spent 200 million on Dogecoin!

This has made the price of Dogecoin [DOGE] quite unstable recently.

#NOT Market Dynamics

You see, the price of Dogecoin previously dropped to $0.36 because those big players (whales) were selling off. However, now they have started buying again, and the price of Dogecoin has returned to $0.38. With their buying, everyone's mood improved, thinking that the price of Dogecoin will rise again.

These big players previously sold off Dogecoin, reducing their holdings from 105.9 billion to 103.9 billion, resulting in the price drop. But now, they have bought about 200 million Dogecoin, which at the current price, means they spent 84 million dollars. With this purchase, the pressure is reduced, and everyone is starting to think Dogecoin will rise again.

However, the price of $0.43 is a bit hard to breach; Dogecoin has not been able to stabilize above it. Additionally, the trading volume has decreased, indicating that the market still needs some stabilization. However, if the big players continue to buy, Dogecoin may break through $0.43 and even rise to $0.48.

If everyone continues to like Dogecoin and feels positive, the price could even rise to $1! But this all depends on how the big players buy and the overall market situation.

In general, the price of Dogecoin now depends on how the big players operate and the overall market condition. If the big players continue to buy, Dogecoin could continue to rise.

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